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Chairman of the AIB College of Business Board of Trustees Chris Costa said AIB will have its last graduating class in June 2016. UI will take over on July 2016.

The 20-acre ampus of AIB is being gifted to UI and possibly the equipment, Costa said.

STUDENTS -- ACADEMICS:

Christy Roland with AIB said counselors will be working with students to finish their degrees at AIB or decide if they will apply to UI. A new freshman class will not be enrolled this fall, officials said.

About 450 students will not be able to complete their degrees at AIB.

AIB students who would to like to transfer to UI will need to meet the admission criteria for transfer students, which varies by college and degree programs.

Staff at AIB are under contract until August 2015 and they will receive new contracts after that based on student need, officials said.

STUDENTS -- ATHLETICS:

Officials confirmed that athletics at AIB will end in the spring of 2015 season.

Student athletes told KCCI earlier in the day that they were notified that the AIB athletics programs were ending. They said scholarships will be honored until UI takes over in July 2016.

Students are sad and confused, said AIB Athletic Director Al Dorenkamp. We are trying to get them as much info as possible, Dorenkamp said.

"Transitions in life are always difficult," said Dorenkamp. We are working to help them all we can. Weekly updates are being provided to the student athletes to provide the latest information.

WHY MERGE?

Officials said the AIB athletics program was expanded over the last couple years as a way to increase enrollment.

Costa said the merger must still be approved by the Iowa Board of Regents. Costa said AIB is financially stable and wanted to make changes now as competition continues to increase for students.

The school has just over 1,000 students right now. AIB officials said there is increased competition throughout Iowa for the dwindling pool of students and competition with DMACC was a factor in the decision to seek the merger.

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